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| HDTFA: Historical Data Test Forecast Accuracy |
Historical Data Test Forecast Accuracy (HDTFA)
represents the average accuracy of the forecasting
methods when tested against historical data for a
particular economic or price index.
For example, a HDTFA of 10 for an economic forecast
suggests that the index will be, on average, within 10
units of the forecast. So, a forecast of 100 with a HDTFA
of 10 suggests that the index will, on average, be
between 90 and 110 during the target month. (100 - 10 =
90; 100 + 10 = 110)
represents the average accuracy of the forecasting
methods when tested against historical data for a
particular economic or price index.
For example, a HDTFA of 10 for an economic forecast
suggests that the index will be, on average, within 10
units of the forecast. So, a forecast of 100 with a HDTFA
of 10 suggests that the index will, on average, be
between 90 and 110 during the target month. (100 - 10 =
90; 100 + 10 = 110)
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